In the meeting in Dakar, members of the Solutions Think Tank (STT) network placed industrialisation, the real economy and financing at the centre of their discussions, describing them as the pillars of sustainable transformation in West African economies.
Dakar is hosting the 14th annual meeting of the Solutions Think Tank (STT) network from 9 to 13 February under the theme: “Towards Structural Transformation of West African Economies: Real Economy, Industrialisation and Financing.”
Against a regional backdrop marked by persistent security challenges, strong demographic pressure and mounting fiscal constraints, researchers, policymakers and European partners converged on a shared assessment: economic growth recorded in West Africa over recent decades has not sufficiently transformed productive structures.
The region remains dominated by subsistence agriculture, informal services and exports of minimally processed raw materials.
Manufacturing accounts for an average of around 9% of regional GDP, limiting the creation of stable and skilled employment.
“West Africa faces a major challenge: transforming growth into sustainable development. A significant part of the response to the crises affecting the region lies in the economy, particularly in creating opportunities and jobs for young people,” said Dr Gilles Olakunle-Yabi, Executive Director of WATHI, which is hosting the meeting.
According to him, structural transformation requires sectoral diversification, strengthened industrialisation and the development of knowledge-based economies capable of generating opportunities in both rural and urban areas.
He also stressed the interconnected nature of the challenges. “Peace, governance and economic development cannot be addressed in isolation.
They are deeply interconnected,” he noted.
From the Senegalese authorities’ side, Dr Cheikh Omar Ba, adviser to the President of the Republic, emphasised that the outcome of the discussions must be “appropriated by the authorities” to be meaningful.
He highlighted initiatives undertaken by the Senegalese state, notably through territorial development hubs, agropoles and newly inaugurated industrial units. For him, structural transformation is a sine qua non condition for sustainable development.
“Without industrialisation, we cannot create sufficient jobs or generate sustainable income, whether in rural or urban areas. And without structural transformation, nothing durable can be built. We cannot speak of development without speaking of peace, nor without education,” he said.
Financing at the core of the debate
Beyond industrialisation, financing emerged as a central theme in the discussions.
Dr Cheikh Omar Ba warned against what he described as a common misunderstanding in public policy. “Credit is often confused with financing. Making loans available is not enough. What is needed is structured and sustainable financing,” he argued.
He called for rationalisation of existing support mechanisms, particularly in the rural sector, to improve their tangible impact on communities.
Senegal’s draft agro-sylvo-pastoral orientation law, currently being finalised, is expected to further structure support for the productive sector.
At a time of rising debt levels and shrinking fiscal space in several countries across the region, financial sustainability and the mobilisation of innovative resources were identified as key priorities.
The participants also underlined the strategic importance of the African Continental Free Trade Area (AfCFTA) as a lever to develop regional value chains, harmonise standards and expand markets.
West African countries possess significant agricultural resources (groundnuts, cocoa, cotton), mineral wealth (gold, bauxite, iron ore) and energy potential (gas, hydropower, oil). Yet without local processing, much of the added value continues to be captured elsewhere.
“Structural transformation enables greater industrialisation, but also the creation of opportunities aligned with the specific strengths of each territory,” Dr Gilles Yabi stressed.
A platform for Africa–Europe dialogue The meeting also featured the participation of European partners,
notably the Konrad-Adenauer Foundation and Chatham House.
Dr Stéphanie Brinkel, Resident Representative of the Konrad-Adenauer Foundation in Côte d’Ivoire, recalled that the STT network, created in 2018, aims to provide a platform for exchange among West African think tanks.
“Sustainable development requires a high-performing economy. In the current context, this means a structural transformation capable of delivering tangible impact for the entire population,” she said.
For Dr Cheikh Omar Ba, Africa–Europe cooperation should evolve towards co-production of knowledge. “A sovereign state should not fear independent expertise. On the contrary, it should draw on it to inform its strategic decisions,” he argued.
At the conclusion of the meeting, STT members intend to formulate operational recommendations and key messages for public decision-makers, the private sector and development partners.
Among the identified levers are strengthening productive infrastructure — particularly in energy, transport and logistics — developing regional value chains in agro-industry, textiles and digital sectors, and improving access to financing for SMEs.
The participants also stressed the need to align vocational training with labour market demands and to accelerate regional integration in order to expand markets and stimulate productive investment.
ARD/ac/lb/gik/APA